Markets zigzag on light volume

Stocks started lower, at midday went into the black & then pulled back. NYSE floor volume was 0.9B shares. Dow finished up 9, advancers over decliners 4-3 & NAZ was up 6. Bank stocks were higher.


S&P 500 FINANCIALS INDEX

Value	190.85
Change	0.77 (0.4%)

The MLP index slipped ¾ to 323 while the REIT index was flattish at 205. Junk bond funds were mixed to higher, remaining near 2010 highs. The VIX was off a fraction at 24. The € was even, just above $1.28½. The big story is the strong demand continuing for Treasuries. The yield on the 10 year Treasury fell 3 basis points, near 17 month lows.

Treasury Securities

U.S. 3-month		0.15%
U.S. 2-year		0.50%
U.S. 10-year		2.64%

Alerian MLP Index --- YTD




Dow Jones REIT Index --- YTD




VIX --- YTD




10-Year Treasury Yld Index --- YTD





While lower, oil was able to hold above the important 75 level. Gold managed a gain & still has following winds to take it higher.

CLU10.NYM

..Crude Oil Sep 10

..75.27

.. 0.50 ......(0.7%)

GCQ10.CMX

..Gold Aug 10

..1,229.30

.. 2.70 ......(0.2%)

$ Gold Super Cycle $
Click Here

The filing for General Motor's IPO is expected on Wed. It will repay a portion of the gov bailout & raise capital for the company. GM will list its shares on the New York Stock Exchange & Toronto Stock Exchange. Adding a listing in Toronto underscores the role that the govs of Canada & Ontario played as junior partners to the US Treasury in keeping GM from liquidation. The number of shares to be sold by owners including the US gov, the govs of Canada & Ontario, & the UAW union healthcare trust still has to be determined. The IPO could raise as much as $20B, making it one of the biggest IPOs ever. The Treasury plans to sell about 20% of the 304M shares it holds, reducing its 61% stake to below 50%. GM plans to sell about $3B in mandatory convertible securities, that convert into shares in the future & offer regular interest or div payments before turning into stock, to attract dividend & growth fund investors.

• GM to list on NYSE, TSX: source- Reuters

Source: CNBC


Today is the 6th anniversary of Google's IPO. It's done great for stockholders, especially for those who got in during the first 2 years. Since then it has had a very choppy but basically sideways ride. Today GOOG lost 8 to the 482s.

Where Google Stands Six Years after Going Public


Google --- 10 years







Source: CNBC



When the coming IPO for GM is a big story, that tells us there was not a lot happening. Dow was basically sideways & is pretty much where it was last Nov.


Dow Jones Industrials --- YTD

Get your favorite symbols' Trend Analysis TODAY!
Click Here

Find out what's inside Trend TV!!
Click Here